Stocks have moved sharply higher in morning trading on Wednesday, more than offsetting the weakness seen in the previous session. With the strong upward move, the Dow and the S&P 500 have reached their best intraday levels in three months.
Currently, the major averages are just off their highs of the session. The Dow is up 526.63 points or 1.6 percent at 33,301.04, the Nasdaq is up 261.39 points or 2.1 percent at 12,755.32 and the S&P 500 is up 68.01 points or 1.7 percent at 4,190.48.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.